Who needs consumer demand to make money?
Bank of America said this morning that its profit quadrupled last quarter compared with a year ago, though that was below expectations. Toymaker Mattel also reported a quadrupling of profit last quarter, helped in part by cost cutting.
David Kelly, chief global strategist with JP Morgan Funds, joins Marketplace Morning Report host Jeremy Hobson to explain what’s got profits up.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?